Question
Can you help me form a new budget income for the following year for this question. The Lees believe that production and sales could double
Can you help me form a new budget income for the following year for this question.
The Lees believe that production and sales could double after being on
Shark Tank which is scheduled in December of 20XY. They want to be prepared for this. Based
on the budgeted income statement calculated above for 20XY, what would a new budgeted income
for 20XZ assuming that the production and sales is double the level of 20XY
here is the previous budget income
Sales is 51,000
cost of goods is 21,000
-----------------------------------------------
Gross profit is 30,000
Expenses include
labor. 4,800
Advertising 3,000
Bank Fees. 200
Phone/internet. 1,800
Utilities. 1,200
Shipping. 1,800
Office Supplies. 900
Conference. 3,000
Travel. 1,200
Total Expenses 17,900
Net Income before taxes. 12,100
income tax 3,388
Net Income After taxes 8, 712
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